D.A. Davidson & CO. Reduces Holdings in A-Mark Precious Metals, Inc. $AMRK

D.A. Davidson & CO. decreased its position in A-Mark Precious Metals, Inc. (NASDAQ:AMRK) by 50.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,091 shares of the company’s stock after selling 12,212 shares during the period. D.A. Davidson & CO.’s holdings in A-Mark Precious Metals were worth $268,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System purchased a new stake in shares of A-Mark Precious Metals in the 1st quarter valued at approximately $41,000. CWM LLC grew its stake in shares of A-Mark Precious Metals by 1,192.3% in the 1st quarter. CWM LLC now owns 2,184 shares of the company’s stock valued at $55,000 after buying an additional 2,015 shares during the period. Farther Finance Advisors LLC grew its stake in shares of A-Mark Precious Metals by 55.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,522 shares of the company’s stock valued at $78,000 after buying an additional 1,255 shares during the period. AlphaQuest LLC boosted its position in shares of A-Mark Precious Metals by 556,900.0% during the 1st quarter. AlphaQuest LLC now owns 5,570 shares of the company’s stock worth $141,000 after purchasing an additional 5,569 shares during the period. Finally, Monaco Asset Management SAM purchased a new position in shares of A-Mark Precious Metals during the 1st quarter worth approximately $200,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Insider Buying and Selling at A-Mark Precious Metals

In other news, Director Moorhead John sold 2,600 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $26.97, for a total value of $70,122.00. Following the sale, the director directly owned 32,974 shares in the company, valued at approximately $889,308.78. This trade represents a 7.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 23.10% of the company’s stock.

Wall Street Analyst Weigh In

AMRK has been the subject of a number of research analyst reports. DA Davidson reaffirmed a “buy” rating and set a $29.00 price objective on shares of A-Mark Precious Metals in a research report on Wednesday, September 10th. Zacks Research raised shares of A-Mark Precious Metals from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 11th. Roth Capital raised shares of A-Mark Precious Metals to a “strong-buy” rating in a research report on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of A-Mark Precious Metals in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

A-Mark Precious Metals Price Performance

A-Mark Precious Metals stock opened at $26.81 on Friday. The firm has a market cap of $660.71 million, a PE ratio of 38.86 and a beta of 0.37. A-Mark Precious Metals, Inc. has a 52-week low of $19.39 and a 52-week high of $39.35. The company has a quick ratio of 0.42, a current ratio of 1.56 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $26.10 and its two-hundred day moving average is $23.57.

A-Mark Precious Metals (NASDAQ:AMRK) last released its earnings results on Tuesday, September 9th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.19. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.91 billion. A-Mark Precious Metals had a net margin of 0.16% and a return on equity of 7.77%. During the same period in the prior year, the business earned $0.76 EPS. On average, research analysts expect that A-Mark Precious Metals, Inc. will post 2.11 EPS for the current fiscal year.

A-Mark Precious Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Wednesday, November 19th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, November 19th. A-Mark Precious Metals’s dividend payout ratio (DPR) is presently 115.94%.

A-Mark Precious Metals Company Profile

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins.